Stop Overpaying Your Taxes!

WOTC – the Work Opportunity Tax Credit — is a well-known tax benefit for employers. It reduces your federal income tax when you hire veterans, the unemployed and various others experiencing economic distress.

Most employers already hire eligible workers. However, WOTC is only available when eligible workers are identified during the hiring process!

Famed English actor Jeremy Irons said, “The secret to life is timing.” So too is success with the Work Opportunity Tax Credit! Also known as “WOTC” (pronounced Watt See), the Work Opportunity Tax Credit rewards businesses with $2,400 to $9,600 in federal income tax credit when they hire members of a WOTC target group. However, [...]

Have you considered the value of hiring the formerly incarcerated? The Work Opportunity Tax Credit (WOTC) might reward your business if you do (more about that later). And yes, when I say, “formerly incarcerated”, I mean ex-felons. People who’ve been convicted of a felony and paid the price. Many of them have emerged from that [...]

Congresswoman Jacky Rosen, a Democrat from Nevada, issued a press release describing her effort to expand the Work Opportunity Tax Credit (aka WOTC). House Resolution 6392, known as the Hire Student Veterans Act, would add a new target group to the WOTC program. What does this legislation do? If passed, the Hire Student Veterans Act would offer [...]

This is a follow-up to the recent post about tax benefits employers earn by hiring military veterans. In addition to strong skill sets and personal characteristics, many veterans can bring an added financial benefit to their employer through the Work Opportunity Tax Credit (or WOTC). Employers naturally have questions about how veterans qualify. How long [...]

If you’re a business owner, CPA or hiring executive, this is for you. Everyone knows that hiring veterans is both the right thing and the smart thing to do for many reasons. Military veterans bring a unique set of skills to the civilian labor market. Few organizations like the military can teach, enforce and reward [...]